Create Fund Distribution Records

Create Fund Distribution Records

Fund Distribution records contain information about the Grant making requirements or purposes of the Fund. You can add an unlimited number of distributions to each Fund record. The Distribution records are an informational resource and budgeting tool. The allocations that you create here will not limit spending or restrict actual Grants made from the Grantee and Grant Management module.

Many organizations use Distribution records to record percentage allocations among the Grantees for designated Funds. The Available to Grant report (run at the beginning of the year) will then multiply the available dollars by the percentage for each designated Fund, and list the distributions that need to be made.

Even if the Fund distributes 100% to a particular Interest Area, Grantee Type, or Designated Grantee, you should still create a Distribution record (with 100% in the Allocation field). The Available to Grant report will only report on Funds that have an associated Distribution record. Refer to the Available to Grant Report for more information.

Note: In addition to the Available to Grant report, the Fund Distributions by Fund Report, and the Fund Distribution Listing Report also use the Fund Distribution record.

Note: This procedure does not cover every field that is available for creating a Distribution record. Refer to the Distributions Tab for more information about all of the available fields.

1. In the Fund Management module, open the desired Fund record, and then click the Distributions tab.

Distributions Tab

2. Click the New button on the toolbar.

3. Enter the Frequency with which you want the Distribution to occur:

• Never – Indicates that the Action Date will never be updated by the system.
• Once – Indicates that the distribution will occur only one time, or will be updated manually. Once the distribution occurs the first time, the Action Date will be cleared.
• Monthly – Indicates that the distribution will occur monthly. When the distribution occurs, the Action Date will automatically increment by one month.
• Quarterly – Indicates that the distribution will occur quarterly. When you make a distribution, the Action Date will automatically increment by three months.
• Semi-Annually – Indicates that the distribution will occur every six months. When the distribution occurs, the Action Date will automatically increment by six months.
• Yearly – Indicates that the distribution will occur once a year. When the distribution occurs, the Action Date will automatically increment by one year.
• Biannually – Indicates that the distribution will occur every two years. When the distribution occurs, the Action Date will automatically increment by two years.
• Triannually – Indicates that the distribution will occur every three years. When the distribution occurs, the Action Date will automatically increment by three years.
• Quadannually – Indicates that the distribution will occur every four years. When the distribution occurs, the Action Date will automatically increment by four years.

4. Enter the desired Allocation % that should go toward the new distribution.

Note: IMPORTANT: If you are adding more than one Distribution record for a Fund, you must make sure that the total allocations equal 100%. FIMS does not warn you if the percentage is wrong.

Note: You can also enter a specific dollar Amount instead of an Allocation % for each Distribution.

5. Enter the Action Date for the first Distribution.

6. (Optional) If you are setting up a recurring distribution that will occur for a set period of time, enter the date when you want the recurrence to end in the End Date field. If you want the recurrence to go on indefinitely, or if the Distribution is not recurring, leave this field blank.

7. Enter any additional information about the distribution in the remaining fields (for example, Interest, Designated Grantee, or Comments).

8. Click the Save button on the toolbar. FIMS will automatically assign a Number to the Distribution record when you save it for the first time.

Tip: Designated Grant Distributions

If you have annual, designated Grants, you can do the following to update them annually:

1. Create a Distribution record for each Fund distribution.

2. In the Grantee and Grant Management module, use a unique Batch code to identify every Grant in a round of designated distributions.

Note: You can also apply the Batch code in Application History if the Grant applications are already posted.

3. The next year, after you have run your Spending Policy calculation and transferred the calculated amount to the Available balance in G/L do the following in the Grantee and Grant Management module:

• Run the Available to Grant report for designated Funds.
• Run the Auto-create Grant Applications utility and select the batch code to create new applications for the current year.

  Note: Make sure you change the Batch code for this new group of applications.

4. Enter the current year’s Grant amounts by referring to the Available to Grants report.

5. Add any new designated distributions that were not made in the previous year (don’t forget the new batch code).

6. Post the designated Grants.